Hoover’s Holders Welcome New Offer,

Rafat Ali

Feb. 10, 2003 - 11:02 AM PDT
Feb. 10, 2003 - 11:02 AM PDT

Hoover’s Holders Welcome New Offer, Say Co Still Worth More: Hoover’s shareholders said they welcomed Friday’s $8-a-share acquisition offer from an investment group including Austin Ventures and Marathon Partners–but the shareholders still think the company is worth more, somwhere between $10-$14 per share. Hoover’s isn’t allowed to solicit offers under the agreement with Dun & Bradstreet but it can consider unsolicited bids that are deemed “superior.” Dun & Bradstreet has three business days to match any competing bid, according to regulatory filings.